Stryker Posts 6.1% Second Quarter Sales Increase
Tracey Romero • Wed, August 2nd, 2017
Stryker Corporation (SYK) announced on Thursday, July 27, 2017, that sales for the second quarter 2017 rose 6.1% (excluding currency and acquisitions). Sales for the quarter were $3.0 billion, which is up from $2.8 billion reported in the second quarter of 2016.
Stryker Corporation, which is based in Kalamazoo, Michigan, is one of the largest orthopedic companies in the world and has products in every sector of the orthopedic market. The following table shows the sales details for second quarter 2017.
According to Mike Matson, an analyst with Needham & Company, LLC, “Organic orthopedics growth improved to 7.2% from 6.2% in [first quarter 2017]; sales of $1.141B beat consensus of $1.119B. SYK placed 26 MAKO systems during [second quarter 2017] compared to 17 in [second quarter 2016] and beat our estimate of 25 despite the ongoing efforts to upgrade the installed base.”
Despite this however, he reported that the stock rating remained Underperform.
Chairman and CEO Kevin A. Lobo said in a press release, "Our growth momentum continued in the second quarter as we continue to drive share gains through new products and strong commercial execution.”
He added, "We are raising our full year guidance for both organic sales growth and EPS [earnings per share], which reflects our expectations for continued strong performance throughout the year."